What to Know Before Buying a Home in Gilbert, AZ

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Exploring Gilbert, AZ From North to South

Strongly considering a home purchase in Gilbert? Great idea! You selected a vibrant city with an ideal amount of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We support 3.8 million customers across the country and know the Gilbert housing market well.

Gilbert's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Continued support for local businesses and cultural growth have helped to entice retirees, new businesses, and young families to the Gilbert area, but so much change also means a strain on housing options, school capacities, and city roads. Even so, Gilbert and its nearby areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When buying a home in Gilbert, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route to work, school, and the grocery store. The location of your house will impact virtually every part of your life. Exploring Gilbert will also help you get a feel for how homes in east Gilbert differ from west Gilbert, what the communities are like, and where to find Gilbert's coolest attractions.

Are your finances in the right place to buy a home in Gilbert? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make the journey less worrisome and more rewarding every step of the way. You could choose to buy a home in Arizona or elsewhere. We help experienced homeowners and first-time homeowners alike. Start with the following steps to help you figure out if your finances are in the right place to buy a house in Gilbert.

Before anything else, calculate how much house you can afford. This will help you narrow your search when house hunting in Gilbert. Next, jot down your potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). It's okay if these numbers are educated guesses. While everyone's situation is different, an online search for Gilbert averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, consider how much you can contribute to a down payment. Placing a minimum of 20% down can improve your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, take a good look at your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and options are always a good thing!

Make Your Move: Buy a Home in Gilbert, AZ

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But when you get to live in a stellar city like Gilbert, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Gilbert. We're here for you from start to finish and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

Gilbert, AZ Mr. Cooper Customer Reviews

Take it from these Mr. Cooper home buyers and sellers in Gilbert, AZ: We love helping homeowners. Call now to see how we can serve you.

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